There is going to be an interesting "balancing act" as regards...

There is going to be an interesting "balancing act" as regards both capital expenditure and equity dilution ...but I think we should look positively as regards the cap ex ...and I think any equity dilution and capital raising is a fair way off ..many months , well into and likely past 2024 .
Never say never ..but if it was to occur , IMHO its more likely an outside party making a Boda proposition that would have to be "compelling "!
So lets focus on expenditure .
Tomingley expansion has to be progressed .. but I am hoping ( and will be asking ) ..if that will be gradual enough to be supplied by further cash flow , and no doubt supplemented from some of the cash reserves . Some big Quarters with accelerated expenditure ,,some more modest !
To that end , two of the big ticket expenditure drivers here , will have been the Exploration drive to Roswell ( plus ventilation rises ) , and the extension of / revision of the tailings dam . One has been done and costed , the other ( tailings dam ) I am not sure .
Boda / Kaiser ...yes , much more to be done ,,but whereas we have had a "very concerted /concentrated programme ( tighter grid spacing holes , to achieve revised inferred /indicated resource status ,,, I would image Diamond drilling remains on going at the "outer shell "at Boda ..whereas the less costly bot more exploratory RC DRILLING ramps up on the outer regional flanks of Boda that ALK has idetified .
So --in all , I think we might find that there is a re- allocation of expenditure ..rather tan a reduction . If there are cost blow outs at the Tomingley expansion , then the exploration drilling might suffer some trimmings .
Its in the best interests of the Board /IG and Chapelgreen as the major holders ..to expand the resource . The bigger the pie , the less any ultimate dilution with an Equity partner ( assuming there might be one at soime stage ) will be !
Ian Chalmers ( and his team ) have done a sterling job with the exploration finds ,,that are and can be /will be built on . Equally , Nic has focused on keeping the Operation ship going ..and getting the Tomingley Extension thru the NSW legislators is a feat in itself ,,in conjunction with the Exploration drive at Roswell and the underground operation at Caloma .
Lots of debate and , based on the downwards momentum of the share price for a long time . justified frustration amongst many long time investor holders .
Looking at some hard and positive fresh news ..to change the price momentum in the near future ,and assuage some ot that frustration ,
AIMHO